Is Your Spouse Hiding Assets from You?

 Posted on June 30, 2017 in High Asset Divorce

A survey by the National Endowment for Financial Education found that 30 percent of spouses have been deceptive about money with their spouse, and almost 60 percent admit to hiding money from them. Considering these statistics, it is not surprising that one of the most contentious issues in a divorce is the division of assets. It is not uncommon for one spouse to try to hide assets from the other in order to avoid sharing those assets.

When couples are dissolving their marriage, they are required to provide financial affidavits to the court which reveal any assets they have. Although providing false information to the court is illegal, many spouses would rather take their chances and lie about their assets so they do not have to share them with their soon-to-be ex-spouse. If you are going through a divorce and think that your spouse is hiding assets from you, there are steps that you and your high asset divorce attorney can take in order to find those assets, including:

• Subpoenas: Your attorney can file a subpoena to any financial institutions that your spouse banks at or your suspect he or she may have accounts at which will require they provide all financial statements and cancelled checks;
• Forensic accountant: Unlike a traditional accountant, a forensic accountant also utilizes auditing and investigative skills to conduct an examination into an individual or company’s financial records;
• Private investigator: A private investigator can conduct surveillance on a spouse to document any activity which may indicate hidden assets. A private investigator can also conduct a skip search which uncovers personal information on a spouse, such as credit information, utility bills, title information, and business licensing. These are all items which may indicate assets are being utilized which come for a source a spouse has not revealed.
• The Internet: Many people do not realize just how much information is contained on the Internet. For example, if a spouse has purchased real estate as a way to hide assets, that transaction is most likely public record published on the web.

Other places that often reveal whether a spouse is hiding assets is their social media sites and Internet browsing history. Browser histories could reveal multiple visits to a bank’s website that the couple do not have funds at. Social media sites, both personal and professional, can reveal all kinds of information, such as posted photos and comments from friends and business colleagues which may reveal that a spouse has more funds than they are revealing.

If you are considering a divorce and suspect that your spouse is hiding assets from you, contact a skilled Leander high asset divorce attorney who can assist in finding those assets and getting you the divorce settlement you are entitled to. Call Powers and Kerr, PLLC at 512-610-6199 today.

Source:

https://www.wsj.com/articles/SB10001424052702304356604577337743171120240